Hello
Any clubs in California obtained a Fictitious business name statement? This is one of the required documents needed to open a bank account. We cannot access any of our money in Charles Schwab because they don’t allow third party payments via checks and they do not provide a debit card. We had these privileges with TD Ameritrade and when the transition happened I received emails that we would get a debit card but found out it’s their policy. It feels like a bait and switch honestly. We can’t even access funds to pay out Bivio renewal. Any advice is appreciated.

Don’t use Schwab! But we do have checks on our Schwab account but we have had it for 12 yrs.
We are moving to Fidelity esp since we can not transfer stocks to anyone but a different broker with the same name. Then we had 9 months that Schwab would NOT transfer info Bivio.
Dan
Treasurer of NAMC Investment club #3
Sent from my iPhone

> On Feb 12, 2024, at 4:58 PM, Robin Travis-malbrough via bivio.com <user*38558700001@bivio.com> wrote:
>
> Hello
> Any clubs in California obtained a Fictitious business name statement? This is one of the required documents needed to open a bank account. We cannot access any of our money in Charles Schwab because they don’t allow third party payments via checks and they do not provide a debit card. We had these privileges with TD Ameritrade and when the transition happened I received emails that we would get a debit card but found out it’s their policy. It feels like a bait and switch honestly. We can’t even access funds to pay out Bivio renewal. Any advice is appreciated.

( you’re convincing to NOT move back to CA ). … Good Luck…

--- ‘Tis me... Larry Stearns

> On Feb 12, 2024, at 3:35 PM, Robin Travis-malbrough via bivio.com <user*38558700001@bivio.com> wrote:
>
> Hello
> Any clubs in California obtained a Fictitious business name statement? This is one of the required documents needed to open a bank account. We cannot access any of our money in Charles Schwab because they don’t allow third party payments via checks and they do not provide a debit card. We had these privileges with TD Ameritrade and when the transition happened I received emails that we would get a debit card but found out it’s their policy. It feels like a bait and switch honestly. We can’t even access funds to pay out Bivio renewal. Any advice is appreciated.

I can't speak to the requirements in California, but you
might want to check with Schwab for the form "Checkwriting
and Visa Debit Card Application for Organization Accounts".
Like your club, my club transitioned from TDAmeritrade to
Schwab last year and, in the process, lost its checking
account. I submitted the above form to Schwab last week and
checked with them today. They claim that a new checkbook was
mailed to me last Friday. I do not yet know if there are any
limitations on writing checks to third parties, but I'm sure
I will find out soon.
Until you are able to obtain a checking account you might
want to consider using your personal checking account for
renewing your club membership. Doing so will require two
entries in Bivio - one for the expense and the other for an
equivalent investment contribution by you. Once you have
obtained a club checking account, you can request a partial
withdrawal in the amount of the check that you wrote (if you
so desire). That's how we paid for the Fidelity Bond.